Form 4: Broadstone Net Lease Executive Ryan Albano Reports Stock Award and Tax Withholding

Ryan Albano, President & COO of Broadstone Net Lease, reports the acquisition of restricted stock and subsequent tax withholding by the issuer.

Summary

• On March 7, 2024, Ryan M. Albano, President & COO of Broadstone Net Lease, Inc. (BNL), reported transactions involving the company's common stock.
• Albano acquired 11,275 shares of restricted stock on March 7, 2024, at a price of $0.
• These shares were awarded on February 28, 2024, under the company's 2020 Omnibus Equity and Incentive Plan and vest ratably over four years.
• Also on March 7, 2024, 5,756 shares were withheld by BNL at $14.76 per share to cover Albano's tax obligations related to the vesting of restricted stock.
• Following these transactions, Albano beneficially owns 274,097 shares of BNL common stock, including 156,448 unvested restricted shares.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard executive compensation practices and aligns management interests with shareholders.

Positives

• The award of restricted stock aligns Albano's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the executive.

Future Outlook

The restricted stock vests ratably on each of the first, second, third, and fourth anniversaries of February 28, 2024.

Industry Context

Stock awards are a common form of executive compensation in the real estate industry, aligning management's interests with shareholder value.

Comparison to Industry Standards

• Companies like Realty Income (O) and National Retail Properties (NNN) also use stock awards as part of their executive compensation packages.
• The vesting schedules and terms of these awards are generally comparable across the industry, designed to incentivize long-term performance.

Stakeholder Impact

• The stock award aligns the executive's interests with those of the shareholders, potentially leading to better company performance.
• Tax withholding impacts the executive's personal finances.

Key Dates